The Aero Group of companies is planning to expand the product portfolio of their Woodland brand, known for shoes, and will now focus on its apparel segment.
The company plans to open large format stores of 4,000 square feet, keeping in mind that apparel would need bigger space for display. It would add 55 more outlets by the end of April 2010 and plans to invest around Rs 100 crore for expansion this year.
In the clothing segment, Woodland caters both men and women. This year, it plans to sell kidswear, too. Recently, the brand introduced its denim range under the same brand name. So far, Woodland sells its shoes in multi-brand outlets. The company now plans to retail its casual wear in multi-brand outlets as well. At present, apparel constitutes 35 per cent of the overall sales of Woodland.
The company wants to take this share up to 50 per cent. “We want to be rational in our plans, given the market situation. There is great demand in the apparel segment. We have bought new machinery for the purpose,” said Harkirat Singh, managing director, Aero Group. The company wants to set up more stores in high-street locations and enter malls only after they become operational and also plans to introduce its range of sunglasses and perfumes.
Source: Financial Chronicle